Americans applied for fewer unemployment benefits at the end of 2019, the Labor Department announced Thursday. The number dropped by 2,000 to 222,000 in the seven days up until December 28, although the four-week average ticked up by 4,750 to 233,250.
The report beat expectations that had predicted 225,000 new claims, according to Reuters. The result marks the third consecutive weekly decline.
“I think we’re definitely going to see slightly smaller growth month by month than what we saw in 2019 and that’s consistent with economists expectations’ of the macroeconomy weakening slightly,” in the labor market, Beth Akers, Manhattan Institute senior fellow, told Cheddar.
She will be keeping an eye on manufacturing trends and changes in policy regarding trade for indications about how job numbers will grow (or shrink) in 2020.
“If you’re looking to something to be concerned about, you can look at the four-week moving average, which is up from what it’s been over the course of the year,” Akers said. “But, by and large, these are really strong, positive numbers for the labor market.”
President Joe Biden announced during a briefing on supply chain bottlenecks that a host of businesses and parcel delivery services have committed to moving more goods to their intended destinations during overnight hours as part of the 24-hour LA port service expansion. Walmart, FedEx, and UPS were named by the president in his speech.
A judge has temporarily put on hold United Airlines' unpaid leave policy for workers who claimed either religious or medical exemptions from COVID vaccinations. Six workers filed a suit against the company, calling the policy unreasonable.
President Joe Biden took to the podium to discuss the deal that will keep the Port of Los Angeles open for business 24 hours a day, seven days a week as the nation grapples with supply chain issues.
Tesla is rolling out its latest self-driving software beta testing program, offering access to a limited number of Tesla owners. The closed beta will cost an additional $10,000 up front or $199 per month for the opportunity to test the system.
"Star Trek" actor William Shatner's voice broke with emotion as he recounted his trip into space on the Blue Origin New Shepard rocket to Jeff Bezos on October 13, 2021.
